This paper builds on existing production network models to study the impact of global and sub-global carbon pricing. It uses the World Input-Output Database (WIOD) to calibrate intersectoral trade between seven regions and 56 economic sectors per region as well as EXIOBASE’s sectoral accounts...

A unilateral tax on CO2 emissions may drive up indirect carbon imports from non-committed countries, leading to carbon leakage. Using a gravity model of carbon trade, we analyze the effect of the Kyoto Protocol on the carbon content of bilateral trade. We construct a novel data set of CO2...

The amount of CO2 embedded in trade has substantially increased over the last decades. We study the trends and some drivers of the carbon content of trade over the period 1995-2009. Our main findings are the following. First, the mix of traded goods tends to have higher emission intensity than...

This doctoral thesis, organized in three self-contained chapters, provides an analysis of the economic effects associated with the extraction of natural resources and the transition from an economy based on fossil fuel use to an economy relying primarily on renewable energy sources. Chapter 1...

CO2 emissions from international shipping, which are currently unregulated, are predicted to rise from 2.7% today to 18% in 2050. International bunker fuel emissions have been excluded from any commitment in the Kyoto Protocol; the UNFCCC conference in Copenhagen also failed to bring about clear...

Climate change remains one of the major international environmental challenges facing nations. Yet nations have to date taken minimal policies to slow climate change. Moreover, there has been no major improvement in emissions trends as of the latest data. The current study uses the updated DICE...

A unilateral tax on CO2 emissions may drive up indirect carbon imports from non-committed countries, leading to carbon leakage. Using a gravity model of carbon trade, we analyze the effect of the Kyoto Protocol on the carbon content of bilateral trade. We construct a novel data set of CO2...

There is a growing wave of concern for the embodied carbon in traded goods. One manifestation of that concern is large economies such as the USA and the European Union enacting climate-related trade measures, including border carbon adjustment. This paper reviews more than ten climate-related...

Using staggered climatic disasters in the U.S, we find that earnings forecasts by analysts who experienced a major climatic disaster become less accurate than those by the unaffected analysts within three months after the disaster due to distracted attention. Stock prices respond less strongly...

Climate risk brings about a new type of financial risk that standard approaches to risk management are not adequate to handle. Amidst the growing concern about climate change, financial supervisors and risk managers are concerned with the risk of a disorderly low-carbon transition. We develop a...